<ul><li>Maruti Suzuki remains DRChoksey's top pick, benefiting from rural recovery and an attractive valuation.</li><li>Margins are expected to remain under pressure during the quarter due to rising input costs, despite partial cushioning from operating efficiencies and a better mix.</li><li>The near-term impact of recent structural changes in India's tax regime on auto demand appears limited, reflecting the underlying income distribution challenges.</li><li>Despite the implementation of tax changes, the revival of the entry-level segment in the auto industry is expected to be gradual.</li></ul>

Auto And Ancillaries Q4 Results Preview: Muted Volume Trends; Margin Compression Persists — DRChoksey

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